My boyfriend and I are currently renting and looking to purchase a house. He is 29 and I am 25. Currently we are about 7 months pregnant and I have been out of work since September due to a quick move and lack of options in the condition that I am in. He is a high school teacher and gets paid decently. I used to be a teacher before we had to make the quick move for his new job. Neither one of us have great credit, mine being worse than his and with only one income as of right now, I'm wondering what our options are. We have found a couple of houses in the $150,00-$175,000 range. Being pregnant and having a child limits me as far as work because I do not want to get a job to pay for day care and have all of my income go to that, when I could just as easily stay at home and raiser her myself. I plan to open a private music lesson business in the fall when the beginners start on their instruments and we get a little more settled. If I get enough students (which realistically I think I can) it will actually be quite lucrative. It's sort of a catch 22 though, because in this area, to teach private lessons, I would need to move up north several miles (out of the current area that we are in) and into a house, but to do that, I need a job. I know that the more money we can put down the better, but what are the chances that we will even get a decent loan from a broker? If you have any advice I'd really appreciate it! Thanks!

Fr_Chuck

It is possible to get possible offers for loans from a broker, they are going to be based on all the factors you named, your credit and his credit ( assuming you are bying the home together) and what his income is compared to the amount of the loan and how much down payment, and how much the property is selling for compared to the apprased value

You will not know for sure till you try and one persons decent is not always decent for another, so it that may depend on what you are expecting